Hi everyone, I'm a second year student in the UK and I was unsuccessful in my applications for IB this year. I am writing this post because there is literally no one I can ask freely about this. On-campus career advisers are clueless and I don't know anyone who has a great understanding of all industries.
I am 20 y.o now and I want to get in IB as soon as possible but I have a feeling that I'll have to graduate, work for a few years, get a masters, and then do it.
My question is which jobs would make this transfer easier. I am from an eastern european country and there are some accounting roles in firms like GlaxoSmithKline, Adecco, Coca-Cola etc. There are also a few Venture Capital firms that focus on investments within 0.5-10M. I could also apply for CF/AM roles in the UK and I feel confident because I'm top of my class with a very solid WM local internship.
I already have opinions on these sectors and I know which one I would want the most but I don't know which one would be the best for my future. Should I go for big recognisable names from the FTSE 100 regardless of country or focus on places where I could build my skills? Which choice can help me more in my career considering that I want to do a masters at a target and get to IB eventually? Thanks a lot in advance.
P.S I know that not all roles are filled for 2019 Summers but I have had only one 2nd round HireVue and I assume that those companies that keep me on hold will reject me. Most people have offers already and ACs are over soon. Springs could help me but right now I have to focus on this choice.
Same. Junior at non-target and failed at every single bank for SA recruiting. Kinda lost now. Just hope that I will get a boutique stint to do in the summer...
Dont be discouraged, just focus fully on the next step. I’ll focus on improving interviews and technicals even though I dont know when exactly I will need it. Also networking. Hopefully we get some good advice :) I dont want a boring 9-5 when I’m 26-27 y.o
yeah, trying to improve myself and hopefully I can get through FT recruiting next year...Still sad though...
Get whatever financial experience you can, do your cfa level 1 in third year apply for a masters at a semi target + so then you get another 2 summers for interning and im pretty sure you will be fine
Cfa level 1 seems like solid advice and I’ve thought about it before. Regarding internships, I am currently an intern in a large WM firm (30 staff, 700M+) but it doesnt seem to be good enough. I cant do a masters after uni because I can’t afford it, I have to work for a few years to save up. Internship in which industry would be the best for recruiters & masters admission officers: PE,VC, AM or CF?
Not sure how brexit affects it but you can borrow up to 10k from the UK government.
Admission officers wont really care especially if you go semi target. I broke into IB through a internship in leveraged finance and an internship in private equity. But lets be honest anything that is relevant that you can spin will help. As long as you are doing modelling, valuation etc etc then I can't see why you wouldn't break in. There are tonnes of Corporate Finance advisory services (which is basically the same as IB just focus on small caps) which im sure if you proactively applied for you could sort some sort of Internship. This would be great experience and very practical. The main difference like I mentioned is the size of deals and you wont typically pitch for deals which means that you spend more time doing the more interesting parts of IB. I do think you should hussle though and apply to secure a summer internship, then then you will be in a stronger position for applications for your final year.
Just make sure that the management team have good IB experience that way you will learn a lot and may be able to network through them which is always nice if they can make the introductions for you.
ultimately, I don't think you are in a bad situation you just have to work hard and keep the faith in your abilities.
TradeGreek quick update, I'll be booking CFA level I this Jan/Feb and I'll sit it in December 2019. What you say on this forum actually makes a difference for others.
I know that Level I won't get me a job on its own and some people say it's not seen as helpful in IB but it should help me get a few interviews for graduate schemes. If I mess up in the interviews, that's my fault.
Thanks a lot.
You can get a Masters right after undergrad with no full-time experience. It's very doable if you have the right background (top GPA/GMAT, relevant internships). Tons of people from my country have broken in London IB from UK target MSc programs with little experience.
Thanks for that, I’ll try to complete a Masters before I’m 25. I have to work for 1-2-3 years (depending on my salary) to save up for masters and expenses. I know I will break into IB, its a matter of time :)
Average work experience for a top tier master's program is 5 years
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